The Kingdom of Saudi Arabia Grants Iraq a Billion Dollars to Build a Sports City!
The Kingdom of Saudi Arabia has played a leading role in trying to stabilize the region after the chaos that broke out in the last decade! Among other initiatives, the Kingdom is immensely investing in art, entertainment, and sports in its neighboring countries in an attempt to counter radical ideologies. In the same context, Saudi Arabia just announced that they’ll be granting Iraq USD 1 Billion to construct a sports city!
The announcement came after the second session of a bilateral cooperation council last Wednesday! A high ministerial delegation, led by the Saudi Commerce and Investment Minister, Majid Al-Kassabi, arrived in Baghdad for the session that will help boost the economic and trade ties between the two states. The delegation is made up of 100 officials and several ministers including Culture Minister, Prince Badr bin Abdullah; Environment Minister, Abdul Rahman Al-Fadhil; and Minister of State for Arab Gulf Affairs, Thamer Al-Sabhan.
Moreover, the minister said that four consulates will open in Iraq, one in Baghdad and three more in different locations to issue Saudi visas for Iraqis. “The Arar border crossing between the two countries is expected to reopen for trade within six months,” he added.
The ties returning between Saudi Arabia and Iraq has been discussed since 2015 after the kingdom reopened its embassy in Iraq after 25 years!